Adapthealth falls on quarterly loss vs year-ago profit, revenue miss

AdaptHealth

09/05/2023 14:05

** Shares of sleep therapy equipment supplier Adapthealth
Corp  AHCO.O  down 20% at $9.65 in premarket trade 
    ** Co posts Q1 loss of $0.06/shr vs profit of $0.08/shr a
year ago 
    ** Q1 rev $744.6 mln vs street expectations of $756.45 mln -
Refinitiv IBES 
    ** Co announces Stephen Griggs's departure as CEO, effective
June 30
    ** Says Board chairman Richard Barasch to serve as interim
CEO until a successor is appointed 
    ** All 10 brokerages rate the stock "buy" or higher; their
median PT is $22.50
    ** As of last close, stock down 37.20% YTD

 (Reporting By Akshita Toshniwal)
 ((Akshita.Toshniwal@thomsonreuters.com))